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Search Results 0 to 49 of about 78 (some duplicates have been removed)
CSPAN
Jan 1, 2013 10:00am EST
spending money. maybe congress should join spending anonymous. here's the 12-step plan. one, congress should admit it is addicted to spending someone else's money. two, make a list of the wasteful spending. three, pass a yearly budget and a constitutional balanced budget amendment. four, stop giving money to countries that hate us. five, have the resolve not to spend money we don't have. six, don't contribute to the addiction by taking more money away from americans. seven, don't borrow any more money from china. eight, don't make excuses for our addiction. nine, don't blame others for the addiction. 10, run congress like most people run their family budgets. 11, remember, we are to do the will of the people. and 12, have a support group and meet regularly to confess our addiction. mr. speaker, congress should join spending anonymous. and that's just the way it is. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from north carolina seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: w
LINKTV
Dec 31, 2012 7:00pm PST
>> and fiscal standoff at the u.s. congress, with tax hikes and spending cuts. hello. you are watching aljazeera, live from doha. also on the program, bargaining for peace. an effort to end the conflict in afghanistan. a brazen protest in china. activists raid the home of their friend who is being held on house arrest. and ringing in the new year. in spectacular style. we will have a look at celebrations from around the world. welcome to the program. in less than five hours from now, the u.s. is set to fall over the so-called fiscal cliff. congress will not vote by the midnight deadline to avoid spending cuts and tax hikes due on january 1. talks will resume on tuesday. earlier, barack obama said an agreement to avoid this was in sight. >> for now, our most immediate priority is to stop taxes from going up for middle-class families starting tomorrow. i think that is a modest goal that we can accomplish. democrats and republicans in congress have to get this done, but they are not there yet. they are close, but they are not there yet, and one thing we can count on with respect
ABC
Jan 1, 2013 6:30pm EST
happens overnight. one of two things could happen. if congress does attach spending cuts, that bill is blown up and you can see markets really sell off tomorrow. if this is just punted along, markets could be a little bit more patient but patience is running out. and 401(k)s are being affected, as well. >> bianna, thank you. >>> we're going to turn now to secretary of state hillary clinton. doctors keeping a careful eye on mrs. clinton. we reported on their discovery, the blood clot right next to her brain. tonight, we know former president bill clinton and their daughter chelsea have been bill her side and the first message from chelsea on twitter. here's abc's sharyn alfonsi now. >> reporter: chelsea clinton leaving the hospital, where her mother will spend a third night. later optimistically tweeting, "thank you all for sending good thoughts my mom's way. grateful to all her doctors and that she'll make a full recovery!" but it's clearly a serious setback for the secretary. it's been three weeks since she was last seen in public, overseas where she picked up a bad stomach virus.
CNN
Jan 1, 2013 11:00am PST
constitution. >> congress is addicted to spending money. maybe congress should join spending anonymous. here's the 12-step plan. one, congress should admit it is addicted to spending someone else's money. two, make a list of the wasteful spending. three, pass a yearly budget and a constitutional balanced budget amendment. four, stop giving money to countries that hate us. five, have the resolve not to spend money we don't have. six, don't contribute to the addiction by taking more money away from americans. seven, don't borrow any more money from china. eight, don't make excuses for our addiction. nine, don't blame others for the addiction. ten, run congress like most people run their family budgets. 11, remember we are to do the will of the people. and, 12, have a support group and meet regularly to confess our addiction. >> what do we know about certainty with the bill that passed the senate? we know it has bipartisan support. that's encouraging. i'm a republican who has been making the case that revenues must rise. that bill does that and if it becomes law, it provides certainty to our tax
FOX Business
Jan 1, 2013 12:00am EST
increases and spending cuts that are unpalatable to force action. otherwise congress would never get it done. that is speaker boehner's leverage with the debt ceiling. so i think we could do a lot better wh the type of people that we're electing to congress, moving away from the extremes and bringing more centrists who can work together. could give you a long speech about that when you combine those two things, you don't get a great work product. adam: congressman jason altmire, you mentioned harmonic convergence that happens in south florida. you're going to blue cross-blue shield up in tallahassee. you won't get that there. all the best to you, sir. congratulations on your service in congress. wish awe happy new year. >> happy new year, thank you. adam: so we'll get the republican take from senator john barrasso just a lit later in the program. he is kook discussing right now with other members of the republican caucus in the senate. they're talking about all of this. viously the final physical cliff deal affects everybody, every aspect of our money, the markets, the economy. some
CBS
Jan 1, 2013 6:30pm EST
, that's what we expect. that's what the american people deserve. >> congress is addicted to spending money. maybe they should join spending anonymous. >> fiscal cliff frustration. the fate of your next paycheck sits with the house of representatives. the senate passed a bill early this morning, but the house republicans, including the majority leader say that they need to see more spending cuts on the table. vice president joe biden is trying to broker a deal in the house the same way he did in the senate. reporter danielle nottingham with more. >> reporter: house gop members left closed
KRON
Dec 31, 2012 5:00pm PST
frustration at the partisan deadlock over spending cuts and taxes. >>> with this congress, that was obviously too much to hope for at this time. >> reporter: the senate is still expected to vote on the package tonight. but the house has adjourned until noon tomorrow. kron four's dan kerman is here to tell us how this all unfolded and what going over the cliff means for many americans. >> reporter: the house's decision to delay the vote means unemployment checks for 12 million americans could stop or atleast be delayed. it could also mean that federal workers could be furloughed. >> it could also lead to layoffs of private sector employees that sell goods and services to the federal government. now earlier in the day the president was optimistic the cliff could be avoided. here's how the day unfolded. >> if republicans thing that i will continue deficit reduction with only spending cuts alone that is not how it is going to work. >> what he is saying to the republicans on both sides of the aisle, basically, to the house of representatives is take it or leave it. that is no our preside
CSPAN
Jan 1, 2013 1:00pm EST
medicare, that spending is on the table when congress reconvenes and the 113th congress gets sworn in. they will have what is being called a round two of negotiations. and right now, the senate this morning and approved a deal about what the avoid those tax hikes for a number of americans. there will have to come back and deal with the debt ceiling, which needs to be raised in security accountabout two months. at that time, the automatic spending cuts that were supposed to happen tomorrow, they will need to deal with that as well. that all will happen if the house approves what the senate did, and that remains the question this afternoon as we continue our coverage here on c- span watching the house. no. showing you livethat all cof the floor proceedings here -- we were showing you live coverage of the floor proceedings here. they went into recess, subject to the call of the chair. which means they are trying to figure this out, too, as they go along. we will try to keep you updated from the conference meeting behind closed doors. republican and democrat leadership has been meeting si
CBS
Jan 1, 2013 6:00am EST
deal after a very long day of negotiations, one house of congress finds common ground on spending cuts and tax increases. >> early this morning, the senate passed some legislation to block the impact of those across-the-board tax increases and spending cuts that make up the fiscal cliff. the house is expected to vote before wednesday. delia goncalves is live from capitol hill with the latest on where we stand now on what seems like a forever mess. good morning, delia. >> reporter: right. just when we thought we were nearing the end, it appears that the house may not be totally in line with this deal, although it remains to be seen when they come back in session at noon today. however, we can anticipate a sticking point that house republicans will essentially not agree with is that the senate bill delays spending cuts, $110 billion in spending cuts. the senate bill delays that for another two months. the president said he wanted to include spending cuts in this version but in order to get it passed through the senate, he had to make a compromise. that's the bill that he was able to
CNN
Jan 1, 2013 1:00pm PST
spending money. maybe congress should join spending anonymous. >> a new year's deal for new year's day. or is it groundhog day? because like the movie "grou "groundhog day," this government in another two months will arrive at another month of debt, spending, and taxes. >> we're joined now by ryan lizza, the correspondent for the new yorker magazine. this is the actual bill that passed the senate last night. >> how many do you think read it? >> it's 150 pages or so of gobbledygook if you will, a lot of words in here. hard to understand what's going on. if the house of representatives amends this, adds a few more pages, what are the chances that tomorrow or thursday morning the senate, the current senate, will pass it? >> i have to say, it seems very low. i think the vote tonight that house republicans have is a vote to kill this bill or not. if you're voting yes on the amended bill, if that gets to the floor, then you're voting to kill the legislation and end these fiscal cliff negotiations. because as boehner seems to have pointed out from the reporting that dana has been doing in the
CBS
Dec 31, 2012 7:00pm EST
obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >> with this congress that was obviously a little too much to hope for at this time. it may be -- and maybe we can do it in stages. >> negotiations have been going on all day. lawmakers and aides moving back and forth between meeting rooms here on capitol hill on what is normally a quiet new year's eve. the major sticking point now is spending. the president suggested lawmakers take action on deficit reduction in the next few months and that more tax revenue could be involved in those discussions, but republicans are furious at that possibility. >> i'm willing to support revenues to deal with this problem. the overall problem. but what i will not agree to is using revenues to replace spending reductions. >> reporter: even if the senate approves the deal by midnight, the house still has to pass the measure before the president can sign it into law. randall pinkston, cbs news, washington. >> that process could take a couple of days but lawmakers say it could be made retroactiv
NBC
Jan 1, 2013 6:30pm EST
this holiday. as congress fails to agree on taxes and government spending measures that have a direct impact on every single american. this new year's day started right after the ball dropped with a lot of hopeful language. the senate voted after 2:00 a.m. on a bipartisan deal that the president praised. but now an impasse. we'll begin our coverage tonight on capitol hill with more from nbc's kelly o'donnell. >> reporter: good evening. congress is in overnight. after missing the midnight deadline, they are trying to work something else out. their own terms here in congress running out on thursday. even though the white house and senate made a deal, it is tough to get it through the house. at a bleary-eyed 2:00 in the morning, senators actually did what many constituents loudly demand -- both parties compromised to pass a fiscal cliff package. >> the ayes are 89, the nays are 8. >> reporter: then came daylight. and gop lawmakers hit a complaint from their own house republicans who expected to see some spending cuts. >> there's no spending cuts. we're adding $4 billion a day to t
CBS
Dec 31, 2012 5:00pm PST
of washington's revenue and spending problems. >> with this congress, that was obviously too many to hope for at this time. [ laughter ] >> maybe we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides are moving back and forth between meeting rooms on capitol hill on what is normally a quiet new year's eve. the sticking point is spending. the president said to take action on deficit reduction in the next few months and more tax revenue could be involved in those discussions but republicans are furious at that possibility. >> i'm willing to support revenues to deal with this overall problem but what i will not agree to using revenues to replace spending reductions. >> reporter: even in the senate approves the deal by midnight, the house has to pass it. >>> once the deal is done, what will it mean to you and your family's finances? cbs 5 reporter grace lee with the consequences of a compromise. >> reporter: this deal is not official until both houses pass it and it's signed by the president. outlined at this point it's clear at least when i
KRON
Dec 31, 2012 8:00pm PST
looks like i'm gonna be spending new year's here in dc. >>> congress fails to meet its the fiscal cliff. the u.s. will go over the fiscal cliff tonight at midnight. because of a decision by the republican- led house of representatives to adjourn until tomorrow. and yet despite this decision, we are hearing that. though a day late. congress and the white house have reached a deal. kron 4's dan kerman is here with the very latest on this developing story. >> reporter: the bush tax cut expire at midnight, and if nothing is done, taxes go up for middle class americans. that is what everyone is trying to avoid. late monday evening vice president joe biden and senator harry read headed to the capitol to brief democrats on a deal worked out between congressional leaders and the white house to prevent across the board spending cuts and tax hikes. >> i think that this is a modest goal that we connect ambush. democrats, republicans in congress set to get this done. this is a modest goal that we can accomplish. >> reporter: for a tax hike for couples earning more than 450-thousand dollars a year.
NBC
Dec 31, 2012 7:00pm EST
white house and congress tried to find a way to avert those automatic tax and spending measures that kick in midnight tonight. the bottom line at this hour, we are headed over the proverbial fiscal cliff. we say that because the senate hasn't voted on any kind of deal. you see it there live. and the house has said even if there is a deal, they're not going to bring any bill to a vote on this new year's eve. so the big question tonight, what impact will it have on every american? we have all of it covered, and we begin with nbc's kelly o'donnell for the latest from capitol hill. kelly? >> reporter: good evening, kate. well, congress is out of time, and frustrations are really running over. and while democrats and republicans say they want to find a solution and they are working toward that, they don't have a deal yet, and that means for now there is nothing to vote on before tonight's deadline. with your money on the line, tonight washington can only claim progress. but not success. >> it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done.
CBS
Jan 1, 2013 4:00am PST
grand bargain that dealt with taxes and spending cuts at the same time. >> but with this congress that was obviously a little too much to hope for at this time. >> reporter: house speaer john boehner has not yet publicly endorsed the deal. and even though congress did not meet the midnight deadline, tax cuts will be retroactive if the bill is eventually signed into law. terrell? >> tara mergener in washington, thank you so much. the bill also extends unemployment benefits for 2 million people. it prevents a 27% cut in fees for doctors who treat medicare patients. but many americans will see a tax hike because the bill does not affect a scheduled 2% increase in the payroll tax. it also kicked the can down the road on automatic spending cuts for the defense department and domestic programs. they've been postponed for two months. as lee cowan reports, that uncertainty has many business owners worried. >> reporter: jo ann vinute is running the numbers. her payroll is due this week. although she at least now has a hint on what taxes to withhold from her dozen employees, that's only half her
CSPAN
Jan 1, 2013 5:00pm EST
plan, now they want to blame the democrats. it is a congress that created the spending in the first place, so this is money they have already spent. so why do they come back and pretend this is something that is out of hand? the deficit has already gone up on spending have already approved. i think we really need to look at what comes out of washington. spending has never been under control. as long as the government is stable, our debt is not really that important. the talk about what we are going to leave for our children and grandkids, while we let our roads fall apart. we do nothing for the future of this country, and they use that all the time to say we cannot leave this huge deficit for our kids and grandkids. at the same time you are cutting pell grants, you are cutting education and research. you are allowing the country to fall apart. we ask the citizens of this country need to look beneath the rhetoric and do little research and we will find out that what the republican party is really doing is constantly giving us a snow job. that is my comment. >> that is frank in detroi
ABC
Dec 31, 2012 4:00pm PST
under aged party goers celebrate in california. >> there is no deal in congress over tax cuts and spending. good evening, i'm cheryl jenning autos so we're going over the fiscal cliff. kregs leaders say they're going to save us from disaster. everyone wants to know will we ring in the new year with more taxes? >> well, we will. and this for a while, anyway. the bush era tax cuts will expire at the strofk midnight. by tomorrow it's expect there'd will be a deal to vote on this, afternoon, the president called supporters to the white house to say an agreement to extend the cuts for middle class is very close. >> preventing that tax hike has been my top priority. last thing folks like folks up here on the stage can afford right is to pay an extrao;ye6) 2,000s ndz taxes next year. >> vice president and hsh mitch mcconnell have been leading on negotiations to extend the increasest qlait tax rate from 35% to 40% and extend unemployment benefits one year. >> we need to pro teblgt american families and job creators from this looming tax hike. everyone agrees that that action is necessar
FOX Business
Dec 31, 2012 9:00pm EST
is of americans feel after congress failed to reach a deal on taxes and spending. as a result we are going of the fiscal cliff. joining me now, former adviser to president george w. bush and doug shown, democratic strategist and fox news contributor. welcome to you both. >> thank you so much. gerri: am i surprised by what is happenin no. and my interest? no. and so of start with you. how would you grade the president's lead on this issue today? >> well, i'm not trying to give anyone a good mark, the president by and certainly not congress. i hope my colleag in the spirit of the new year would recognizthat the entire political establishment has let us down. we are going to get at best that deal on taxes, not going to get anything to reform entitlements or spending. in my question to you, do you think republicans in the house should vote for this deal? gerri: wait a minute. before you go to that i want to mention, we ould acknowledge your that there is still a possibility the senate will vot on these ideas that we have described ad nauseam today about extending tax cuts for single
ABC
Jan 1, 2013 5:00pm EST
and adding spending cuts in that bill. this will have to happen by noon thursday when this congress ends and the new one is sworn in or the whole thing starts over again. the sequestration cuts take effect as the tax cuts -- in fact, they have already taken effect. >> thank you. so what do americans think of the job that congress is doing to solve this fiscal crisis? agoal goal went out to find out. >> they don't think much of what is going on in the building behind me. we crossed the river into virginia and the fact that the fiscal cliff deal is still not done comes to no surprise from everyone you're about to hear from. we traveled to the north side social in arlington with one goal. we asked people for one word to describe congress. >> one word -- >> you guessed it, nonare flattering. >> dysfunctional. >> stubborn. >> silly. >> watching the 112th congress bicker its way through negotiationings leaves people lime tom disappointed. >> i'm adisappointed. >> people like katherine apathetic. >> it seems like a cycle of nonsense. >> it has gotten worse. >> he's right. this congress wil
FOX News
Jan 1, 2013 2:00am PST
months having this discussion. credit rating is in trouble. congress has to look at the spending side. the bill does nothing for spendi spendispend. that matters to americans because it effects every sij american by having a higher interest rate. it's very important. both sides were together cooperating and finding a way to cut spending. >>> thank you soichl. so much. >> thank you. happy new year. >> 48 after the hour with the new year come a slew of new laws including some that could surprise you such as a ban on letting pigs run wild. some lawmakers quenching their thirst for regulations with this plastic water bottle ban. we will have more on that. right now let's check in with brian kilmeade he was coming up on fox and friends. happy new year. >> same to you. we are going to go over the next four-hours details on this plan passed by the senate overwell canni -- overwhelmingly. see if it has any hope of passing the house. so far not so good. john will be joining us to look at the financials of this whole deal coming down and put it this way, he doesn't seem happy. lindsay graham wi
FOX News
Dec 31, 2012 7:00pm PST
want the deep spending cuts during this congress. still in that congress just for a couple more days and they don't think there have been spending cuts that have been deep enough and this will be the chair arery on top of the sundae where are they are saying this is not what voters sent us here to do bre. >> bret: what about the politics of this, chad? you talk to these members all of the time. i talked a little bit about it with ed henry and chris stirewalt, republicans have been getting hammered by this president on the stump and he has been making a lot of headway in the polls and clearly people if you ask them the question it seems like republicans would have a hard time convincing people that they are not to blame for this. the politics of this, even though spending cuts, the fact that the white house really didn't put forward any spending cuts and entitlement reform is going to be where the big driver of dealing with the deficit and debt going forward is -- has to be dealt with. >> and that is the problem. we heard chatter earlier in the week yesterday in fact there was th
NBC
Jan 1, 2013 4:00am EST
for about 98% of americans. the bill had strong bipartisan support. about $24 billion in spending cuts would be delayed for two months so the white house and congress can have more time to debate them. vice president joe biden came to will capitol shortly before midnight to help sell the deal. president obama released a statement shortly after the senate vote. it reads in part "tonight's agreement ensures that going forward we will continue to reduce the deficit through a combination of new spending cuts and new revenues from the wealthiest americans. i will continue to fight every day on behalf of the middle class and those fighting to get into the middle class to forge an economy that grows from the middle out, not from the top down." >>> that vote may not come right
CBS
Dec 31, 2012 6:00pm PST
bargain that solved all of washington's revenue and spending problems. >> with this congress, that was obviously a little too much to hope for at this time. [ laughter ] >> it may be we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides moving back and forth between meeting rooms here on capitol hill on what is normally a quiet new year's eve. the major sticking upon the now is spending. the president suggested lawmakers make action on deficit reduction in the next few months and that more tax revenue could be involved in those discussions. but republicans are furious at that possibility. >> i'm willing to support revenues to deal with this problem. the overall problem. but what i will not grow to is using revenues to replace spending reductions. >> reporter: even if the senate approves the deal by midnight the house still has to pass the measure before the president can sign it into law. the house left earlier this evening, but it doesn't matter in terms of the "fiscal cliff" agreement because the senate still has to vote on it. it's unlikel
CBS
Jan 1, 2013 4:30am EST
bargain that dealt with taxes and spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not publicly yet endorsed the deal. >>> the white house issued a statement after this morning's senate vote. in part it reads while neither democrats or republicans got everything they wanted, this agreement is the right thing to do for our country and this house should pass it without delay. >>> a local police department is starting the new year in mourning. a warrenton father leaves behind three grieving children and saddened neighbors. >> reporter: officer chris young was on his way to another call when this terrible crash happened right here behind me in bristow. it was really sad and hard for our families. the kids all played together. chris was always running around playing flashlight tag with the kids. always had a smile on his face. just a great guy. >> reporter: friends remember officer chris young. the married father of three wawr a motorcycle officer on his way to a crash drivi
CBS
Jan 1, 2013 4:30am PST
and spending cuts at the same time. >> but with this congress that was a little too much to hope for at this time. >> reporter: house speaker john boehner has not publicly endorsed the deal. tara mergener for cbs news, washington. >> now, the house is set to reconvene today at 9 a.m. pacific time. a house vote is expected today or tomorrow. >>> what a night. no fog this year, perfectly clear last night for fireworks along the waterfront here in san francisco. it's beautiful out there. a lot of people showed up for the 15-minute display and jammed the streets near the bob barker. when it was all over, i think most of them are still out there, it was crowded getting into work today but there was some violence during the new year's celebration here in the city. cbs 5 reporter cate caugiran is in san francisco with the problems police had with the new year's crowd and has the latest. >> reporter: good morning. happy new year. san francisco police had their hands full because some celebrations did not go as planned. there were two separate shootings last night. now three people are recove
FOX Business
Jan 1, 2013 6:00pm EST
support this say we'll deal with spending cuts when the new congress gavels in on january 3rd. they would need significant democratic support and a good chunk of republicans to get this thing through tonight. >> is there hope some of the republicans will sort of come around on this? or are the dems and supporters of this bill hoping that desperation kicks in being markets open tomorrow and we still have no deal? >> basically. it is being posted for those who want this to pass for republicans. you're talking about what is now nearly 3.8, $3.9 trillion tax cut. republicans are now looking at a federal budget as we said, and federal tax code where tax rates have gone up on nearly every working american. so by voting for this package you are voting to cut taxes. by not voting for this package you're voting against a tax cut. there are other tax provisions in here that republicans, now that we have had the reset of all the tax rates, should be able to support. that is according to the supporters of this proposal. but still there are major problems from republican as they want the spendin
FOX News
Jan 1, 2013 3:00pm PST
it could kill the bill and you'd have to start over with a new bill in the 113th congress that starts in less than 48 hours so there is concern about that. others are saying we were elected to cut spending in washington. we need to do this. the clock is running. waiting to see what they will do. >> bret: we'll watch it and head back to breaking news with you. what a difference a day makes? not even a day. they were on their way to pass the legislation to avert the pain of self-imposed fiscal cliff and the trappings for the time being. tonight a different picture entirely. ed henry joins us live. what is the mood at the white house? >> they are watching and raising like the rest of us. there is no plan, not yet, for president to say anything. they believe with the senate republican leader mitch mcconnell on a limb, will be hard for speaker boehner not to pass this. >> biden enjoying a casual lunch with the staff. strolling back to white house saying the physical deal is still on track. >> i think so. >> basically air force one is on standby to take them back to hawaii as soon as
FOX News
Dec 31, 2012 11:00pm PST
spending parted of the budget, the part of the budget that congress is in charge of. everything else that is off budget, which is entitlement spending, medicare, medicaid, social security, there is nothing in this to touch that. that's really what draws theire of conservatives because that's the main thing that drives up the debt. they still haven't gotten their hands wrapped around that. even on the discretionary side of the budget, the part that congress does have its hands on, they basically haven't done anything. as you say, they have kicked the can down the road, one more time. >> speaking of that, the other thing this bill does not address at all is the debt ceiling, which we did hit yesterday. but of course, treasury circuit tim geithner has put in emergency spending measures that are going to forestall that crisis, again, for another couple of months. so we are going to be dealing with that issue again in february or so, also. >> absolutely. that's something the house very carefully conservatives because they view that as a points of leverage. in other words, if we are going
CBS
Jan 1, 2013 5:00am PST
wanted a bargain that dealt with taxes and spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not yet publicly endorsed the deal. and the house reconvenes by midday today. a vote could also come today. >> tara, a lot of republicans weren't happy with the president's speech yesterday. is there any indication that that could affect the vote in the house? >> well, president obama during that speech criticized congress for taking too long to come up with this deal. he also laid the groundwork for another problem that's coming and that's basically burrough -- upping the country's burrough limit. republicans will no doubt try to use upping that in ex-kang for spending cuts. and to which the president said, they have another thing coming if they think that's going to be the case. spending cuts alone are not going to be able to reduce the country's deficit. so we have that coming. senator john mccain said basically that's going to antagonize a lot of the house members and possib
WETA
Jan 1, 2013 6:00pm EST
fundamental problem, too much spending. >> we are taking up a bill that won't do anything to cut spending. i am embarrassed for this generation. the future generations deserve better. >> if the house kills the bill the widespread contempt for congress will only grow. >> to have negotiated at this level of detail to come so close to the goal line and not be able to go over it. >> wall street is desserted today. but when the markets return from their holiday their reaction to the spectacle of american democracy in action will be critically important. how shake sethis deal looking? >> i think it is pretty shaky at the moment. the republicans in the house of representatives announced in 10 minutes time they will hold a meeting or a conference call to decide what to do next. the position is that the number two republican has said he can't back this deal. not unless there are big changes making cuts in spending. the republican leader, we don't know. john boehner hasn't said whether he will bring it to a vote or try to make changes and spend it off to the senate again. this deal that everybody s
ABC
Jan 1, 2013 5:00pm EST
address the mortal threat -- uncontrolled spending. >> reporter: there's one deadline they cannot ig know. >>> the new congress begins monday at 12 p.m. karen travers, abc news washington. >> we have more at abc2news.com. just head to our home page and look for the featured stories. >>> all right. a lack at maryland's most powerful radar. very little of that precipitation has made its way north. all of it well, well south. conditions are still dry. clouds are holding tough around the area. that storm is staying south and still pretty cloudy around here. again, we stayed nice and dry. upper 30s in reisterstown, hick core ri and man chester. 42 in pape pea. cloudy and dry, getting cold. colder still as we go into tomorrow and the middle part of the week. we've got those numbers straight ahead. >>> new tonight a teen killed in a car crash in aberdeen. the victim, 17-year-old austin remines was driving his car when he hit a car traveling the opposite direction. remines died at the hospital. the other driver was not hurt. >>> two people were killed, two others hurt in san francisco after a cha
MSNBC
Dec 31, 2012 8:00pm PST
move by the congress to move us off that rate in the future this is a big -- a big win for the white house, $600 billion in revenue with no spending cuts and we go to round two as the calendar takes us to the next phase of all of this. i think it's a big win for the white house, something the republicans know they have to take, know there has to be more revenue in the treasury and willing to fight for another day on spending cuts. >> i want to read this statement that came out from house speaker john boehner, majority leader eric cantor and kevin mccarty. kathy mcmorris rogers entereded this statement. the house will honor the statement to consider the senate agreement if it is passed. whether the house will rescind or properly amend the measure won't be met until they and the american people can review the legislation. >> what do you think the chance is with both parties not happy with the compromise reached. what do you think the chances are that it will pass, probably in the senate but not run into trouble in the house? >> you heard vice president biden. the white house has put fo
FOX
Jan 1, 2013 7:00am EST
we still haven't seen congress take care of the spending components of what was parts of the fiscal cliff coming up in february. >> so it's possible what's going on right now will keep going. they'll kick it back and keep going and rolling? >> absolutely. we're looking at another situation where the agreement that was reached by the senate even if the house accepts it, kicking the can down the road is the old line which everyone -- no one seems to want but where we always are and where we are once again. >> and there's a frustration level with the people they are supposed to be representing. do you think they are aware of the frustration level the everyday person is dealing with and because this is taking so long? we've been getting e-mails and tweets saying they should have taken care of this already. that type of mentality from people. do you think they get it? >> well, they often haven't frankly in the past. we've seen situations where one of the things that causes congress to move is when there's a big market shift. so new year's day in some ways they kind of luck out in this re
CBS
Jan 1, 2013 6:00pm EST
into republican demands for more spending cuts, and its prospects for passage there dimmed. congress began the new year having missed its deadline to keep tax cuts from rising back to 1990's levels for most americans. and to prevent across-the-board spending cuts. instead, house republicans and democrats spent much of the day mulling a bill that cleared the senate shortly before 2:00 a.m. >> the yeah's are 89. the nays are 8. 60-vote threshold having been achieved the bill as amended is passed. >> woodruff: the senate bill makes permanent the bush era tax cuts for 99% of families, those with incomes under $450,000 a year. anything over that amount would be taxed at a rate of 39.6% up from the current 35. the agreement would raise the estate tax on large estates to 40%. but the payroll tax cut of the last two years would expire. the bill also extends unemployment benefits for a year and it stops a cut in medicare payments for physicians. the senate vote was a rare show of unity welcomed by leaders of both parties. >> as i said, this shouldn't be the model for how we do things around h
CNN
Jan 1, 2013 9:00am PST
meeting with members of congress, the democrats, obviously, to push forward on negotiations to make sure that the house passes some version of a compromise to make sure that the country does not face severe tax hikes, as well as spending cuts. there is a deal on the senate side now, the house has to convene and figure out whether or not they approve of that version, whether they are going to amend it or if they've got their own version in hand and that, of course, is the work of the vice president as well, even if the fiscal cliff deal is passed, many of us going to end up paying more taxes than we did last year, that's because the payroll tax cut was allowed to expire. nobody's trying to revive that. i want to bring in our business correspondent christine romans to join us, talk about this. what is the difference here? this tax cut, it's been around since, what, 2009 or so, to boost the economy. tell us how the payroll tax is different than the others. >> the payroll taxes come out of your paycheck automatically and used to fund social security. costs dids 120 billion for the treas
CBS
Dec 31, 2012 11:00pm PST
emerged with a compromise on taxes and agreed to wait on slashing spending. >> this was the mini cliff. the big cliff still lies in front of us. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second. >> reporter: the bush-era tax cuts remain in place for individuals earning as much as $400,000 a year, far above the 250,000 level on which president obama campaigned. but those making more will see higher income taxes, capital gains, plus a new health care reform surtax. rob wood says you'll notice in your paycheck one popular tax cut will be history. >> the average person, say, earning $50,000 a year is going to pay about $1,000 more in payroll taxes in 2013. >> reporter: the fiscal cliff agreement also increases taxes on estates worth more than $5 million and extends unemployment benefits for one year and keeps the child tax credit for workers who don't earn enough to pay income taxes. the alt
WETA
Dec 31, 2012 7:00pm EST
president acknowledged that he would have preferred a grand bargain on taxes and spending now. but he said -- >> with this congress, that was obviously a little too much to hope for at this time. and the bargainingeon tdanheba continueer ot khey issues were haing fire, including a one-year bill to prevent milk prices from doubling in the new year. joining us from the capitol joining us from the capitol with the very latest is todd zwillich. he's washington correspondent for "the takeaway" on public radio international and a regular guest on the newshour. so todd, you're back with us again. six hours to go until midnight. progress reported but still to deal. >> senate republicans, judy, the latest thing that has happened is senate republicans came out of a conference meeting with their leader, with mitch mcconnell all sounding positive. they all echoed what you had in the piece there from mcconnell saying they were very, very close to sequester the automatic spending cuts remain an outstanding issue. and kind of got thrown into the mix again today. you know, the president in that appearance
KCSMMHZ
Jan 1, 2013 2:30pm PST
keep popular tax credits for middle class families until 2018. a decision on spending cuts has been delayed until march. stock markets begin the new year on wednesday when washington will find out what wall street thinks of congress' last ditch compromise. >> we will talk more about this latest deal. for that i am joined by our business correspondent. as we heard hard fought compromise in the senate at least but not everybody seems to be too satisfied. >> it is a compromise. both sides had to withdraw from their original positions. democrats wanted to raise taxes for yearly family incomes starting at $25,000. now it has been pushed to $450,000. if you look at the republicans they preferred to not raise any taxes at all. that idea did not succeed at all. but there is a feeling of relief that the deal has been reached. you have to keep in mind the compromise needs to pass the house of representatives with the republican majority. >> if it does pass will it be effective and solve the budget problem in the united states? >> no. major issues have not been addressed so far. if you look at
CBS
Jan 1, 2013 6:00am PST
spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not yet publicly endorsed the deal. now, the house reconvenes at midday but lawmakers say, frank, they plan to study this bill hard before they take a vote. they say the senate has had months to get a bill passed and they are not going to rush to get anything done. >> there is word, tara, that some republican lawmakers are upset about something the president said. could that effect support of the bill? >> reporter: it might. president obama chastised in his speech congress for taking too long to get the deal done. but he also threw something out at republicans saying if they think that spending cuts is the only thing that's going to reduce the deficit, they have another thing coming and that basically references the $16.5 trillion in debt which is the next issue on the table. a lot of republicans were offended and it could antagonize enough of them to jeopardize an "up" vote on this bill to get it done. >> they are mak
KCSMMHZ
Dec 31, 2012 5:30pm PST
spending cuts. the democrat led senate is expected to pass the bill on new year's eve. the republican led house says it will not vote on the bill before the midnight deadline. members of congress are expected to work on a stop gap measure to prevent any serious fiscal impact. the fiscal cliff has become a term many people even outside the financial markets are talking about. if the u.s. economy falls off this cliff, ripple effects are expected. >> reporter: the term fiscal cliff has been making headlines recently. here's a brief explanation. it's a term used to refer to the economic fallout that might occur because of policy divisions in the u.s. congress. if democrats and republicans cannot come to an agreement on resolving the fiscal cliff by year end, sudden tax increases and drastic budget cuts will take effect and would dramatically slow the u.s. economy. let's look into the two main components of the fiscal cliff. first, taxes. democrats want to let tax cuts for the wealthy to expire but republicans are generally opposed to the plan. individuals would be hit with huge tax hikes
FOX News
Jan 1, 2013 3:00am PST
. this executive order was not requested by congress and we should reject it. we have a spending problem in our country and we should be looking for areas to cut. >> absolutely, guys. this is an embarrassment. it really, really is. >> steve: but they're very effective on capitol hill, what are you talking about? >> brian: they're supposed to get a cost of living increase, but they forego that for the last couple years. >> keep foregoing it. if you campaign on shared sacrifice, if you keep talking about the billionaires billionad millionaires, when you're really talk being small businesses, moderately successful americans who have done everything right, including a tremendous amount of sacrifice, it's an embarrassment that you would give yourself and your colleagues this kind of a raise. remember, 100 million people are going to go to work this week and when they get their next check, their payroll tax will come back. remember the white house, if you go on their web site, but remember all the videos that show how important that extra 40 bucks was, how it changed people's lives? so
CNBC
Dec 31, 2012 7:00pm EST
of congress to vote to raise taxes further. the ko focus has got to be on spending. there are a lot of people, who say the president wanted to go over the cliff. and you know what, my thought is this, maybe they did and they blamed the republicans. but the reality is a recession would sink bam's second term. recession will sink his second term. that is why i think the president played his hand all wrong today. the president didn't do himself any favors. i have been skeptical that there would be a deal. the president was not interested and had concluded that the politics were against republicans and in my view that may be true. but that is in the short-term and in the long-term the president and the democrats would own the resection if we can't get this thing through. preappreciate your time will there be a vote tonight? will there be something to vote on? >> that is the billion dollar question. it seems to me that we are headed in that direction. >> all right many, many thinks kansas republican senator. happy new year to you, sir. >> the market has made a strong statement to you. on
CBS
Jan 1, 2013 1:35am PST
leader mitch mcconnel and joe biden emerge with taxing and spending. >> this is a mini cliff, big cliff still lies in front of us. big cliff. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second. >> reporter: the bush era tax cuts remain in place for individuals earning as much as $400,000 a year and families $450,000 a year. far above the $250,000 on which president obama campaigned. those making more will see higher income taxes, capital gains and dividends rates. san francisco tax attorney rob wood says you will notice on the paycheck one popular tax cut will be history. >> say the average person earning $1,500 a year will earn $20 more in tax increases. >> reporter: it extends unemployment benefits for one year and keep the child tax credit for workers who don't earn enough to pay income taxes. and the alternative minimum tax got a tax for inflation. that shields an average of $300,000 ea
FOX
Jan 1, 2013 5:00am EST
spending cuts and that will come right about the time that congress has to deal with yet another bruising debt ceiling battle. >> all right. thank you. >>> why do you think lawmaker waited until last minute? there is a lot of questions surrounding that. we are getting a lot of feedback on our facebook page. >> william have bad hotwood says it was to, quote, act like they are doing something for their already overrated salaries. they do this almost every year. we need to force them to change the way they work us for. share your commends our facebook page. >>> still ahead this new year's morning. >> so, a deal has been reached mentioned in the senate. that doesn't mean the tension is gone. we'll take a look at what new year's resolution lawmakers may want to consider when we come back. (woman) 3 days of walking to give a break cancer survivor a lifetime-- that's definitely a fair trade. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful (woman) why walk 60 miles in the boldest breast cancer event in history? because your efforts help komen serve millions of women and m
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